The acrylic fibre market is set to exceed a valuation of USD 5,470.6 million in 2023 and is projected to reach USD 8,006.7 million by 2033, growing at a CAGR of 4.2% over the forecast period. This expansion is driven by increasing demand for durable, lightweight, and versatile materials in various industries such as textiles, home furnishings, and outdoor products. The superior properties of acrylic fibres, including excellent resistance to sunlight, chemicals, and mildew, contribute to their rising popularity. Additionally, advancements in manufacturing processes and the development of eco-friendly acrylic fibres are expected to further boost market growth, making acrylic fibres an increasingly vital component in diverse applications.
Due to its characteristics, such as softness, lightness, and superb drape, acrylic fibers are frequently used in the textile industry. Due to their comparable warmth and appeal at a lesser price, they are frequently used to replace natural fibers like wool. The textile industry’s rising need for acrylic fibers has fueled the market’s growth.
It is simple to blend acrylic fibers with other fibers, such as cotton, wool, and polyester, improving their qualities and making them appropriate for various applications. The popularity of acrylic fibers is growing because they may be tweaked to match certain specifications for various end-use sectors, including garments, home textiles, upholstery, and industrial uses.
The growing emphasis on health and fitness has increased demand for outdoor and sportswear. These applications benefit from the characteristics of acrylic fibers, such as breathability, resistance to fading, and resistance to pilling. This industry’s demand for acrylic fibers is increasing as consumers want more cozy and long-lasting garments.
The proliferation of e-commerce platforms and online vendors has increased the market for textile items on a worldwide scale. Customers may access a variety of items, including those derived from acrylic fibers, through online retail, improving their visibility and sales, which in turn supports market expansion.
Key Trends Driving the Acrylic Fiber Market
- Sustainability and Eco-friendly Practices:
- Increasing consumer demand for sustainable and eco-friendly materials is driving the acrylic fiber market. Manufacturers are focusing on developing recyclable and biodegradable acrylic fibers to meet these demands, leading to innovations in production processes.
- Growing Textile Industry:
- The global textile and apparel industry continues to expand, with acrylic fibers being favored for their lightweight, soft texture, and ability to mimic wool. The rise in demand for fashionable and functional textiles is contributing significantly to the growth of the acrylic fiber market.
- Rising Demand in the Automotive Sector:
- Acrylic fibers are increasingly used in the automotive industry for interior upholstery, carpets, and other components due to their durability and resistance to wear and tear. This trend is expected to propel the demand for acrylic fibers in the automotive sector.
- Versatility in Applications:
- Acrylic fibers are versatile and can be used in various applications, including home furnishings, carpets, industrial fabrics, and protective clothing. The adaptability of acrylic fibers to different end-use markets enhances their growth potential.
- Technological Advancements:
- Continuous innovations in production techniques and fiber properties are driving the market. Advances in spinning and dyeing technologies allow for better quality and a broader range of products, catering to diverse consumer preferences.
Key Takeaways from Acrylic Fibre Market Report:
- In 2018, the global market size stood at US$ 4,696.1 million.
- The market expanded at a CAGR of 3.1% from 2018 to 2022.
- In 2022, the global market size stood at US$ 5,306.1 million.
- The filament segment captured 58.1% of global market shares in 2022.
- The apparel segment acquired 38.3% of global market shares in 2022.
- India captured 3.8% of global market shares in 2022.
- The United States captured 13.1% of global market shares in 2022.
- China captured 3.2% of global market shares in 2022.
- The United Kingdom captured 4.1% of global market shares in 2022.
Contact Our Sales Team Now to Discuss How You Can Acquire This Report and Gain Valuable Insights for Your Business.
Recent Developments Observed by FMI:
- In March 2022, AKSA announced that by acquiring two new production lines, its annual production capacity would increase to 365 kilotons. With a US$ 24 million budget, the project is projected to be finished in 15 months.
- Thai Acrylic Fiber Co Ltd, a subsidiary of Aditya Birla Group, introduced “Regel” recycled acrylic fiber in 2022.
- In 2021, Oak Ridge National Laboratory scientists developed a cheap carbon fiber that might reduce the cost of wind turbine blades. Fibre is initially a readily accessible raw material with large bundles of acrylic fibers used in the textile industry. Any fibers in the material are turned into carbon when it is heated. Pultrusion, a procedure similar to extrusion where the material is dragged through a die instead of being pushed through, transforms the fibers into planks.
Key Players in the Global Market:
- Aksa Akrilik Kimya Sanayii A.
- Dralom
- Aditya Birla Group
- Jilin Chemical Fiber Company
- TAEKWANG INDUSTRIAL CO. LTD.
- Exlan Japan Co. Ltd.
- Kaneka Corporation
- Indian Acrylics Limited
- Pasupati Acrylon Ltd.
- Vardhman Acrylics Ltd.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
